GBP/JPY: British Pound bounced at 144.730 and attempted to head back up at 145.000

Denis Joeli Fatiaki Independent Analyst

GBP/JPY: British Pound bounced at 144.730 and attempted to head back up at 145.000

What is going on now with GBP/JPY?

GBP/JPY: The British Pound failed at its 500 EMA at 145.850 in yesterdays trades and fell to 145.350 support. The pair continued its down run in the 60 minutes price chart during the overnight session and managed to find support at 144.475.

Our forecast

GBP/JPY: The Pound bounced at 144.730 support and drove prices up to 145.000 in today's session. The pair has been floating around 145.000 resistance in the 60 minutes price chart for the past 12 hours and needed to break this barrier to continue to 145.350. The Pound could fall to 144.730 and 144.475 if it fails to continue at 145.000

Support/ Short-144.730, 144.475, and 144.150

Resistance/ Long - 145.000, 145.350, and 145.850

Our trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the GBP/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the GBP/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

EUR/USD remains on the back foot near 1.1750

EUR/USD is coming under renewed pressure, sliding towards multi-week lows in the mid-1.1700s on Thursday. The move lower reflects another strong session for the US Dollar, with the Greenback drawing fresh support from a batch of firm US data that reinforced its underlying bid.

GBP/USD drops further, hovers around 1.3460

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3440 area, its lowest levels in around four weeks. The move reflects a firmer Greenback, supported by another round of solid US data, while a somewhat divided FOMC Minutes has added an extra layer of uncertainty around the Fed’s rate path, keeping Cable on the defensive.

Gold unable to attract investors ahead of key US data

Gold is trading with humble gains on Thursday, hovering around the key $5,000 mark per troy ounce. The yellow metal remains underpinned by renewed geopolitical tensions in the Middle East, even as a stronger US Dollar and rising US Treasury yields across the curve limit the upside and keep price action relatively contained.

Ripple slips toward $1.40 despite SG-FORGE tapping protocol for EUR CoinVertible

XRP extends its decline, nearing $1.40 support, as risk appetite fades in the broader market. SG-FORGE’s EUR CoinVertible launches on the XRP Ledger, leveraging the blockchain’s scalability, speed, security, and decentralization.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.